Bitcoin

Bitcoin Casinos

We are facing bitcoin's ups and downs for nearly ten years now. Satoshi Nakamoto firstly released cryptocurrency in 2009. Since then it has gained popularity in many areas and became the most favorite matter of discussions and hype worldwide. Why do people actually use BTC (Bitcoin Crypto Currency – FAQ What is bitcoin?)? No governments and banks can control Bitcoin. So it makes transactions completely anonymous. Check out our review to save your privacy and find the best of the best bitcoin casinos!

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Bitcoin Details

What is Bitcoin Casino?

A bitcoin wallet is a software used to store your bitcoins and Mining farm is actually a data center aimed to produce bitcoins. Of course, you can`t use Bitcoin Casinos to produce bitcoins or keep them. They only accept bitcoin as a payment currency. In fact, there are 2 kinds of Bitcoin Casinos:

Exclusive Bitcoin Casinos, which accept only bitcoin payments
Hybrid Bitcoin Casinos, which except both bitcoin & traditional currency payments
While playing on the second type, it is worth to be very attentive. In order to uphold their fund, they convert bitcoin deposits into traditional currency. So stay up to date with bitcoin exchange rate.

How to pay with Bitcoins in Online Casino?

Let`s assume you’ve already chosen the wallet to keep your bitcoin and bought the desired amount of BTC (learn more at FAQ section). Your first-time bitcoin deposit would look like that:

  • Register at the Bitcoin casino
  • Get your personal bitcoin address from an online casino. A bitcoin address is 27-34 characters code.
  • Decide your deposit amount in BTC. You can pay with a thousand or a hundred part of bitcoin to make your first minimum deposit. Learn more at FAQ section.
  • Make a payment from your Bitcoin wallet
  • Wait until your deposit is confirmed. Learn more at FAQ section.
  • Done!

The Pros and Cons of Bitcoin

Pros

  • Anonymity
  • No intermediaries
  • No territorial restrictions
  • Transaction security proved by blockchain (FAQ – What is blockchain? How it makes my payment safe?)
  • Your wins increase automatically with bitcoin rise

Cons

  • Bitcoin exchange rate is fluctuate

Bitcoin FAQs

Bitcoin (BTC) is a type of cryptocurrency that works on blockchain technology. Cryptocurrencies refer to all types of currencies issued with use of technical software and having no binding to any governments or countries. In contrast, we commonly use traditional currencies like the dollar, euro, krone and so on.

The blockchain is a technology used to save information in the continuous number of records (blocks). All those records are linked between themselves, secured using cryptography and saved at different servers. That means any piece of data can`t be removed or tracked. Once recorded, your blockchain operation stays forever and your deposit always has a prove.

Every bitcoin can be split into 100,000,000 pieces. The 0.00000001 bitcoin part is called a satoshi. You can pay with thousands and hundreds of parts of BTC. Commonly, you pay with a bitcoin amount equal to some traditional currency amount.

There is only you and online casino to know about your payment. Transaction details are coded into symbols, so any of your personal information would be revealed. That is completely anonymous.

No. Information about the deal is secured by cryptography. People who don’t actually know who you are, can’t find out where you are from.

Using special bitcoin exchange services like Bitstamp, BTC-e, Kraken and others, you can buy BTC or it’s part equal to some traditional currency amount. In fact, this is not the only way to own bitcoin; you can get it by transfer from someone who owns it. Bitcoin can be kept in specialized wallets, though many banks provide bitcoin wallets as part of their services.

Your transaction data should be saved at several servers. The time required for this is the time of confirmation. This process may take a few minutes or several hours depending on your fee. This fee is alike the commission to bank services; in fact, you pay to miners to process your data quicker. The higher fee, the quicker the transaction. online casinos have nothing to do with those fees.